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Morgan Stanley Offers New Custodial Services to Its Prime Brokerage Clients
Wednesday, June 17, 2009 7:51 AM


(Source: Business Wire)trackingMorgan Stanley (NYSE:MS) today announced an expansion of its Prime Brokerage offering with the launch of new custodial services for long securities held by Prime Brokerage clients. The custodial services will be provided directly by Morgan Stanley Trust National Association (MSTNA), a U.S national chartered trust company.

"Recent market events have increased the demand for solutions that mitigate counter-party risk for hedge funds," said Rich Portogallo, Head of Institutional Clients and Services at Morgan Stanley. "The launch of new custodial services from MSTNA underscores Morgan Stanley's commitment to providing hedge fund managers and investors with alternative asset protection solutions in addition to our best in class financing services and technology."

"We are excited to offer this new asset-protection platform to our clients," said Joe Davis, Managing Director in Morgan Stanley Prime Brokerage and President of the custody business of MSTNA. "We have created a platform that provides a seamless client experience across Prime Brokerage's and MSTNA's systems, and offers fully automated transfers, aggregated reporting and a single client service point of contact."

MSTNA gives clients the option to hold their long securities with a Morgan Stanley subsidiary that is independent from Morgan Stanley's U.S. and U.K. broker dealers.

MSTNA is regulated by the Office of the Comptroller of the Currency (OCC).

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

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